1、 Contents Foreword 1 Executive summary 3 1 The Banks approach to disclosure 6 2 Governance 7 3 Strategy 9 4 Risk management, metrics and targets 15 Box 1 Data quality and limitations 19 Box 2 APF corporate portfolio eligibility criteria 24 Box 3 Illustrative metric of APF corporate holdings forward-
2、looking emissions performance against climate goals 27 Annex 1 Abbreviations 30 Annex 2 Bank carbon target for 2030 31 Bank of England 2020 The Bank of Englands climate-related financial disclosure 2020 June 2020 1 Foreword The Covid-19 pandemic is causing unprecedented disruption to our daily lives
3、 and the global economy. The threat from climate change is just as real and potentially at least as devastating. It will ultimately transform the way we live, our economies, and the planet itself. To meet both challenges we must draw on the collective efforts of industry, scientists, governments, re
4、gulators, and each of us as individuals. We all have a role to play, and the Bank is no exception. In order for governments to make informed policy choices, investors to make informed investments, and consumers to make informed spending decisions, they need to understand how companies activities con
5、tribute to climate change. That is why the Bank has supported the Financial Stability Boards work on climate disclosure through the Task Force on Climate-related Financial Disclosures (TCFD). As of February 2020, more than 1000 organisations, representing a market capitalisation of over $16.7 trilli
6、on and controlling assets of $138 trillion, have pledged their support.1 We are working domestically2 and internationally3 with industry, government, regulators and other central banks to promote the adoption of TCFD and improve the quality of climate disclosures. The Bank sits at the heart of the f